Iraq Starts Exporting Oil From the New Port in Ten Days

Port of Abu Flus, Basra – The Southern Oil Company, owned by the state said that Iraq will begin to download the raw of the first new port for the export of oil south of the country within ten days.

Iraq plans to implement the expansion at a cost of $ 1.3 billion to export facilities in the port of Basra on the Gulf include pipelines under the sea and under the earth and the establishment of a single float to load tankers in light of efforts to rebuild the sector after years of war.

It quoted “Reuters” Faisal Khalaf, deputy director of the Southern Oil Company as saying that “Iraq will begin to load crude from the port of the first new oil export to the Gulf within ten days after delaying the bad weather and technical problems start.”

It was first scheduled to open the port in January but the date was postponed to the end of the pipe joints and testing of terrestrial and marine sectors.

When he was asked back for the start of export of the first mono-buoy laying replied “maybe in a week or ten days.”

Iraq produces about three million barrels of oil per day, while exports amounted to last year’s 2.165 million barrels per day on average is expected that the volume of exports this year, 2.5 million barrels per day, on average, according to government data.

Iraq is a member of the Organization of Petroleum Exporting Countries and has the fourth-largest oil reserves in the world, and entered into agreements with international energy companies to raise production to 12 million barrels per day by 2017.